Doesn't seem to be working, does it? I'm a fairly verbose person and nothing I ever want to say fits in 140 characters. And the stuff I see on twitter that DOES fit into 140, well, I'm typically better off not reading it. (222 characters)
Most of the time, it's not about the characters but more about the words. If you want to say more in only 140 characters you have to fit more words in, which means using shorter words... and that's why 99% of Twitter users sound like idiots, even though most of them probably are not.